Egypt’s PM hails Valeo AI expansion with new Cairo R&D hub

Egypt’s Prime Minister Moustafa Madbouly on Monday welcomed French automotive technology company Valeo’s expansion in the country, including the opening of a new artificial intelligence-focused research and development centre in Cairo.

Madbouly met Valeo Chief Executive Christophe Périllat in the New Capital to review the company’s R&D activities and plans to develop AI applications. Communications Minister Raafat Hindi and Ahmed Elzaher, chairman of Egypt’s Information Technology Industry Development Agency (ITIDA), attended the meeting.

The prime minister said the new centre would become one of Valeo’s key global R&D hubs, adding that Egypt attaches high priority to the information and communications technology sector and supports the company’s expansion and use of local engineering talent.

He said Egyptian engineers had already demonstrated strong capabilities in advanced automotive technologies, following a previous visit to Valeo’s operations in Egypt.

Valeo’s CEO said the new centre would rely on Egyptian engineers and developers, adding that he was pleased with the government’s support for the company’s operations in the country.

Communications Minister Amr Talaat said the centre would start with around 35 engineers and expand to more than 100 specialists over time, focusing on integrating artificial intelligence into Valeo’s global operations and developing next-generation smart mobility software.

He said the facility would strengthen Egypt’s position as a regional technology hub and a destination for global software investment.

ITIDA’s Ahmed Elzaher said Valeo’s partnership with Egypt has spanned two decades and said the agency would continue to support the company’s expansion plans.

Attribution: Amwal Al Ghad English